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Arconic Inc. (NYSE: ARNC), New York, NY – the recent spinoff from Alcoa Inc. – reported sales for 2016 of $12.4 billion, flat compared with 2015. The company reported a loss of $931 million, as compared to a loss of $322 million the prior year.
For the fourth quarter, the company reported sales of $3 billion, down 0.8 percent from fourth-quarter 2015. The company reported a loss of $1.2 billion, as compared to a loss of $701 million the same quarter a year ago. The results include $1.4 billion of one-time items, including charges related to the separation of Alcoa and restructuring and other separation costs.
This is Arconic’s first quarter reporting earnings following the separation. The numbers include one month of Alcoa for fourth quarter 2016 and 10 months of Alcoa Corporation for full-year 2016.